Malaysia Air eliminating 6,000 jobs

Malaysia Airlines is eliminating 6,000 jobs as it struggles to recover from a pair of catastrophic incidents this year, The Associated Press reports.

The airline, mostly owned by the Malaysian government, suffered twin tragedies within four months of each other earlier this year. One of its planes went missing in March and another was shot down over Ukraine in July.

The beleaguered company is responding the adversity by cutting about 30 percent of its workforce in a widespread restructuring, according to the report.

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Malaysia Air was reported to be facing a potential bankruptcy in May, after its stock value dropped to its lowest level since 1998.

The trouble for the company first began when its Flight 370 disappeared in March while it was carrying 239 passengers. The disappearance of the Boeing 777 airplane, which has still not been found, roiled the international aviation industry and caused turmoil for the airline.